Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Gülen urges Turkey to preserve, advance achievements in democratization

Turkish Islamic scholar Fethullah Gülen has called for the preservation and advancement of the country’s achievements in democratization, describing this as “crucial.” In an interview with The Atlantic magazine, Gülen said Turkey’s ongoing relationship with the European Union is partly to be commended for the level of democratization Turkey has achieved so far.

Almost 1,000 officers removed from post in İzmir, Ankara

Around 700 police officers, including four deputy chiefs and 70 high-ranking officials, were removed from their posts at the İzmir Police Department and reassigned to different positions on Thursday morning and removals continued later in the afternoon with 207 more officers

US calls decision by Turkey to seize Zaman newspaper ’troubling’

“We see this as the latest in a series of troubling judicial and law enforcement actions taken by the Turkish government targeting media outlets and others critical of it,” State Department spokesman John Kirby told a news briefing.

Government blocks bank accounts of aid organization

The Justice and Development Party (AK Party) government’s efforts to disrupt the work of Turkey’s leading aid organization Kimse Yok Mu (Is Anybody There) continues with the unlawful blocking of the organization’s bank accounts on Oct. 22.

Political cartoonist Aseem Trivedi raises voice against detention of women after delivery in Turkey’s hospitals

Turkish government has systematically been detaining women on coup charges either when they are pregnant or shortly after giving birth. At least 16 cases have so far been reported.

An opposition out of Gulen Community?

Noting that it’s an interesting analogy, I told Gulen community is not a political movement and its participants refer to their movement as “hizmet.” As our conversation moved on, I got the feeling that the correspondent regarded Gulen community as the most influential organized opposition movement against the ruling AKP (Justice and Development Party).

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

To Turkey and Back!

Counterterrorism judge found to be PM’s strong supporter

Turkish prosecutor says Gülen movement founded by CIA!

Slain prosecutor’s daughter: My father was not with Gülen movement

Huntsville’s Peace Valley Foundation sets annual Dialogue Dinner and awards

My Nominee for the Nobel Peace Prize is Fethullah Gulen

Turkey’s Deputy PM: 2.4 Pct Of Public Sector Employees Discharged Over Alleged Gülen Links

Copyright 2026 Hizmet News